Regular Fire Board Meeting - June 24, 2020

Government al Activities

Unavailable Revenues Deferred Taxes

$ 57 $ 57

Total Governmental Activities

NOTE 10 - CONTINGENT LIABILITIES

Amounts received or receivable from grantor agencies are subject to audit and adjustment by grantor agencies. Any disallowed claims, including amounts already collected, may constitute a liability of the applicable funds. The amount, if any, of expenditures which may be disallowed by the grantor cannot be determined at this time although the government expects such amounts, if any, to be immaterial.

NOTE 11 – ACCUMULATED COMPENSATED ABSENCES

Accumulated unpaid vacation and leave time is accrued when incurred. The current portion of such amounts has been accrued in the governmental fund (using the modified accrual basis of accounting). Accrued vacation time must be used by the end of the fiscal year. Sick time is accrued and payable as needed. Sick time is not payable on termination or separation therefore it has not been accrued in the financi al statements. On June 30, 2019, the Distri ct employees had accrued $35,409 in unused sick time. The District also accrues Compensatory time. This is accrued when incurred and is payable on separation. The amount of compensatory time owed to employees has been accrued in the government wide financial statements as leave payable.

NOTE 12 – CURRENT LIABILITIES

Accounts Payable are liabilities considered due and payable in 60 days or less.

Short-Term Debt are those liabilities payable within one year or less which are not considered as Accounts Payable.

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